after steve jobs. it's "nightly business report" for thursday, august 25. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> tom: good evening and thanks for joining us. two iconic american companies-- apple and bank of america-- and two iconic c.e.o.s-- steve jobs and warren buffett-- in the spotlight today. susie, investors spent the day trying to figure out whether it's time to buy or sell shares of apple and bank of america. >> susie: tom, steve jobs and warren buffett are visionaries that investors pay close attention to. so it's not surprising that apple stock fell slightly today reacting to news that the company's superstar c.e.o. resigned. shares closed down $2.23 to $375 and change. but shares of bank of america jumped almost 10% after buffett said he's making a big $5 billion bet in the beleaguered bank. >> tom: we'll have more on the future of apple in a moment, but first, a clo

to market to u.s. consumers. >> tom: apple's c.e.o. steve jobs will resign from that position effective immediately, of course he has been battling health problems. we'll have more on this coming up later on in the program. meantime let's get to tonight's market focus. >> tom: we've seen a two-day, triple-digit rally for the blue chips and three straight days of gains for the major indices. the financial sector led the way today, and bank of america again continues to see plenty of wild swings and huge trading volumes. b-a-c jumped 11% after hitting a new low yesterday. the bank has been fighting back against market concerns regarding its capital position. it maintains it has enough money at its disposal. an analyst at raymond james calls the rumors of capital trouble absurd. here's b. of a. since the spring of 2009, the last time the stock was in the $6 dollar range. one uncertainty that continues to hang over the bank are lawsuits over mortgages gone bad. other leading financial stocks today include life insurer genworth, jumping almost 7%. and dow stocks american express and j.p. mor

but in relationships. >> i'll say, "remember the time we were with steve and jenny and we met their puppy?" and, "no, i wasn't there. i just wasn't there." and then you pull out a photograph of patrick, steve, and jenny and the puppy on the night of, and it's like-- it's almost like magic to him. >> "organizational skill problems, time-management difficulties, missed appointments," less and less. "frequently late, unfinished projects." ooh, basements full. >> yes, take a look at your desk, take a look at your basement. >> if i had a garage, i could fill that with more too. >> when you deal with adults, usually they don't lose things any more. they lose time looking for their things. >> "money management problems." if i had money-- well, i did at some point, i'm sure. >> well, 50% of it is gone, anyway. >> yeah, exactly. >> i think there's people that we hire that take better care of our money. >> i think a bank robber would take better care of my money than i have. >> "frustrated and excessively impatient." yeah, i'd say "almost daily." >> almost daily, i think so. >> i have the idea, i do it. i don't

expected. economist steve richiuitto believes the financial impact will be modest. >> the numbers that are being bandied about are basically anywhere from $10 billion to $40 billion. but if you look at it in terms of its effect on quarterly g.d.p., third quarter g.d.p., how much could you take off of that? well the answer, basically, is about 0.1%. that's nowhere near the $45 billion in private insurance damage from hurricane katrina in 2005, but many experts say it's too early to calculate the full impact of irene, especially with some towns still underwater. and then there's the yet-to-be- tallied impact to retailers. some chains, like home depot and lowes, benefited from storm preparations. others, however, suffered as irene forced many to shutter during a busy weekend. analyst r.j hottovy said late august can be important for many retailers. >> typically in a period like this, especially being back to school season, a lot of the purchases are simply going to get delayed into this week. the problem for retailers? this potentially could move inventories to a markdown situation.

. >> reporter: economist steve gallagher says the problem is a slow economy can only make jobs at a very slow pace. in the last three months, employers have added a total of 216,000 new jobs to payrolls. today, we learned that more jobs were actually created in may and june than originally reported. but nearly 14 million americans remain unemployed. and, with job growth still anemic, the unemployment rate is going to stay elevated. economist anthony chan says if we're lucky, we'll get as many as 150,000 new jobs a month through the end of this year. >> that, i think, will be just barely enough to hold the unemployment rate. we may see a little bit of a decline in the unemployment rate between now and the end of the year, and, the hope and expectation is that next year we start to see a little bit stronger growth. >> reporter: economists believe most new jobs will come from the private sector as they did last month. the government, particularly at the state and local level, cut positions again in july. it was the ninth straight month of job losses in the government sector. >> it sounds like it

.org. >>  steves: like so much of budapest, hungary's parliament was built for the big 1896 party. its elegant neo-gothic design and riverside location were inspired by its counterpart in london. it's enormous, with literally miles of grand halls, designed to help administer that sprawling, multinational hapsburg empire. by the end of world war i, the hapsburgs were gone, and hungary, while much smaller, was fully independent. but then came the nazis, followed by the communists. that illusive freedom was finally won after the fall of the soviet union in 1989, and since then, the city has blossomed. today, hungary rules only hungary, and it's ruled not by an emperor, but by democratically elected representatives who legislate from what's now a palace of democracy. like vienna, budapest feels more grandiose than the capital of a relatively small country, but the city remains the cultural capital of eastern europe, with a keenly developed knack for good living. you can enjoy that hungarian joy of life at the széchenyi baths. soak with the locals. of the city's two dozen or so traditional mineral bat

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